Texas Democratic Party aims to use NFT sales for fundraising efforts

Texas Democratic Party aims to use NFT sales for fundraising efforts

Front Row, a marketplace for progressive organizations, announced it would partner with the Texas Democratic Party in order to pilot a program that aims at raising money for candidates or causes through nonfungible tokens.

Front Row announced on Oct. 11, that it had created digital images of key moments in the progressive movement and offered the nonfungible tokens for sale. Some of the NFTs featured include posters featuring conservative Texan legislators fleeing the state.

Front Row claims that funds raised by its NFTs will be “directly toward political groups and individuals”, but it did not explain how the digital purchases would comply with current campaign finance laws. Candidates for federal office cannot receive more than $5800 from one individual to purchase NFTs.

Front Row co-founder Parker Butterworth said that NFTs would be a powerful addition in any political fundraising effort. The launch of our marketplace, which will give Democrats across America a fundraising advantage that their counterparts do not possess, will give Democrats across all 50 states a competitive advantage. “We cannot wait to turn powerful, exclusive behind-the scenes moments into digital assets that fuel progressive goals.

Front Row stated that it will also use blockchain technology to reduce carbon emissions and donate a portion of NFT proceeds to causes related to carbon capture and reduction. Although the platform is currently being launched at the Texas state level, Front Row indicated that it may expand to other candidates and causes.

Related: NFTs and Prioritizing Humanity over Profits

Although many candidates for federal office in the United States, including those from states and localities, have said they will accept donations in cryptocurrency — likely to attract younger tech-savvy voters — NFTs are largely absent from congressional talks.

Cointelegraph reported that 18 bills related to digital assets and blockchain technology were introduced by the 117th Congress in August.

2021's Most Anticipated Growth & Wealth-Building Opportunity

Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together

Amy Jimenez

Amy Jimenez– Services My name is Amy Jimenez, and I am the main writer behind the" allthetopnews.com" for the ground-breaking and most fragile bits of knowledge into the most recent news in the services sector. I began my voyage of work as an autonomous investment advisor. I had around 4 years of involvement in this field. I am a free soul so; my energy for investigating the world has taken me to the countries over the globe and allowed me to report for a part of the best news affiliations. At present, I am a full-time manager as experienced in the account and began to utilize my capacities.

2021's Most Anticipated Growth & Wealth-Building Opportunity

Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together

Close Bitnami banner
Bitnami